Naïm Abou-Jaoudé Appointed Chairman of New York Life Investment Management International

Abou-Jaoudé Continues in his Longtime Role as Chief Executive Officer of Candriam Investors Group; John Grady Appointed a Vice Chairman of NYLIM International

NEW YORK, September 16, 2015 –New York Life announced today that Naïm Abou-Jaoudé, 49, has been appointed chairman of New York Life Investment Management International (“NYLIM International”), the international arm of New York Life Investment Management LLC (“NYLIM”), responsible for leading NYLIM’s efforts outside the United States.

Mr. Abou-Jaoudé, who joined the Executive Committee of NYLIM International as vice chairman in February 2014, will continue in his longtime role as chief executive officer of Candriam Investors Group in addition to his work with NYLIM International. Mr. Abou-Jaoudé continues to report to Yie-Hsin Hung, who was chairman of NYLIM International prior to her recent appointment to chief executive officer of NYLIM, a leading multi-boutique investment firm with $330 billion in assets under management.

Mr. Abou-Jaoudé will be supported by current NYLIM International Vice Chairman Jeffrey Phlegar and newly appointed Vice Chairman of NYLIM International, John Grady.

Ms. Hung said, “Naïm has shown incredible leadership since joining the New York Life family, where he’s recognized as the driving force behind the strong relationship Candriam has built with New York Life. The record growth that Candriam has experienced since our acquisition of the firm in February 2014 and the position it has achieved as a leading asset manager on the European stage have been achieved under Naïm’s guidance. With the engagement of Jeff and in welcoming John, I have every confidence that we have the right team in place to fulfill our vision to further develop our global asset management presence and deliver our global capabilities, particularly in Europe and Asia.”

Candriam Investors Group has grown significantly since the acquisition by New York Life Investments in February 2014. Since then, assets under management (AUM) increased by 36 percent with AUM reaching €90.7 billion as of June 30, 2015.

Mr. Abou-Jaoudé said, “I am very excited to take an active role in NYLIM’s international expansion efforts. As a part of one of the world’s most respected financial institutions, NYLIM is well positioned to bring its successful multi-boutique approach and suite of first class products to clients in the growing international asset management markets.”

Appointed chairman of NYLIM International, Mr. Abou-Jaoudé is also chief executive officer of Candriam Investors Group since 2007 and became a vice chairman of NYLIM International in February 2014. He joined Candriam (formerly Dexia Asset Management) in 1996 where he was a member of the Executive Committee, responsible for Alternative Investments, until the end of 2006 before he rose to his appointment of chief executive officer in January 2007. Previously, he was a member of the Management Board and responsible for the Investment Management and Derivatives department at UBS Asset Management France and Alfi Gestion. Mr. Abou-Jaoudé started his career as a partner at Transoptions Finance (subsidiary of Crédit Agricole). He is a graduate of the Institute of Political Studies in Paris (IEP-Sciences Po) and holds a master’s degree in Economics and Finance from Université Paris II – Panthéon Assas.

Appointed a vice chairman of NYLIM International, Mr. Grady is a senior managing director at NYLIM and serves as a senior advisor and director of Candriam Investors Group. Prior to this role, he served as senior advisor to the president of New York Life Investments Group. He joined New York Life Investments as chief financial officer in 2010 following his work at New York Life Insurance Company where he was senior vice president responsible for Mergers and Acquisitions and the Treasury Department. Previously, Mr. Grady worked at Old Mutual, most recently as executive vice president, Global Strategy and Corporate Development. He joined Old Mutual in 2002 as CFO of Old Mutual Asset Management. Mr. Grady has held various roles at CDC IXIS Asset Management, Fleet Financial Group, and The Boston Company. Mr. Grady received a Master of Business Administration from Boston University and a Bachelor of Science degree in Business Administration from Providence College.

Mr. Phlegar was appointed a vice chairman of NYLIM International in February 2014. Additionally, he is chairman and chief executive officer of MacKay Shields, a fixed-income focused investment management firm and wholly-owned subsidiary of NYLIM. Mr. Phlegar joined MacKay Shields in December 2011 after 18 years of service at AllianceBernstein, where he served most recently as president of Special Opportunities and Advisory Services. From 2004-2008, he co-led AllianceBernstein’s fixed income division as executive vice president and chief investment officer. His previous roles at the firm included serving as director of U.S. Fixed Income and Insurance, director of Liquid Markets/MBS and portfolio manager for Taxable Fixed Income and Insurance. Prior to joining AllianceBernstein in 1993, he held roles with Equitable Capital Management and Dreyfus Corporation. He received a Master of Business Administration from Adelphi University and a Bachelor of Business Administration from Hofstra University.

About New York Life Insurance Company

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at for more information.

About Candriam Investors Group

Candriam Investors Group (“Candriam”) is a leading pan-European multi-specialist asset manager with a 20-year track record and a team of 500 experienced professionals. Managing €90.7 billion as of June 30, 2015, Candriam has established management centers in Luxembourg, Brussels and Paris and has experienced client relationship managers covering Continental Europe, the UK, the Middle East and Australia. Its investment solutions cover five key areas: fixed income, equities, alternatives, sustainable investments and advanced asset allocation. Through conviction-driven investment solutions, Candriam has earned a reputation for delivering innovation and strong performance to a long-standing, diversified client base in over 20 countries.

Candriam Investors Group is a New York Life Company. New York Life Investments ranks among the world's largest asset managers****.

*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/15/15. For methodology, please see
**Individual independent rating agency commentary as of 8/11/15.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
****Source: New York Life Investments ranked 26th among the world’s largest money managers within Pensions & Investments, May 18, 2015. Rankings are based on total worldwide institutional assets under management for the year-end 2014. New York Life Investments assets include assets of affiliated investment advisors.